Leading 12 shopping malls 12 billion high valuation 30% JI Capital is separated by 1 year and then grabbed 29 stores
Link Exhibition (00823) has a new round of 12 mall property listings. After two rounds of bidding, it will be sold out at a total of 12.01 billion yuan. The transaction price is over 30%, and the buyer is the first fund of foreign fund base capital. Over the years, the exhibition has accumulated a total of about 47 billion yuan.
The Link has launched its own shopping malls for tenders. The Group said yesterday that 12 shopping malls including Sha Tin Qin Shi Shopping Centre, Cheung Sha Wan Hing Shopping Centre and Tuen Mun Shan King Shopping Centre were sold for a total of $12.10 billion. The transaction price is now on September 30. The valuation was about 32.1% higher, and the net income from the sale of the property was 2,787.6 million yuan. The buyer was led by the base capital, including Goldman Sachs.
Wang Guanlong, CEO of Link Exhibition, said that despite the recent market volatility, the property sales have received top response from top international investors, including global and regional private equity funds, as well as local investors. Based on the transaction price of the property, this is the largest retail transaction in the year. It is also the highest transaction price of investment properties this year. The largest sale is for the Hengli Group to purchase Taikoo City from Swire Properties (01972) for about $15 billion. Center 3 and 4 commercial buildings.
Ap Lei Chau Lee Tung Shopping Centre
In this change-handling mall, the value is higher including Fanling Huaming Shopping Mall. The total floor area is about 70,000 square feet. Together with 295 parking spaces, the annual rent is about 54.5 million yuan. In addition, the Ap Lei Chau Shopping Centre in Ap Lei Chau is adjacent to the MTR Station. It is also a high-quality shopping mall in the tendering project. It provides 84,000 square feet of floor space and 687 parking spaces for a price of 1.692 billion yuan. It is the highest transaction price.
It is understood that the tender was launched in October and was awarded a multi-channel consortium, of which three consortiums entered the second round of bidding in December. In addition to the winning base capital, the other two bidders in the city are foreign-funded funds, including Pengli assets that have invested in Hong Kong properties and the well-known fund Blackstone Group.
According to the company, it has purchased 12 shopping malls, together with about 4,700 parking spaces, totaling 1.1 million square feet of shopping malls. In fact, the consortium partnered with investment bank Goldman Sachs last year to invest 23 billion yuan, and 17 shopping malls for the exhibition, and re-enter the market one year later.
The cumulative cost of the exhibition is 47 billion
Kehui Capital is a private equity real estate fund management company in Hong Kong. It was founded in 2005 by Wu Jiyu and Wu Jitai. Fund investors mainly come from Europe and the United States. Currently, the fund manages tens of billions of properties around the world. It is understood that the fund has successfully raised about 48 billion yuan in recent months. Investing in Hong Kong property, it is also active in the property market in Hong Kong this year, including a capital injection of over $10 billion to purchase 3 and 4 shares of Taikoo Shing Centre.
In 2014, the company started to sell its shopping malls. It has accumulated 7 tenders last year and sold a total of 57 shopping malls. Together with this tender, the cumulative cash-out is 47 billion yuan.